Detailed Single Year Tables

Description of Proposed Provision:
Progressive price indexing (30th percentile) of PIA formula factors beginning with individuals newly eligible for OASI benefits in 2016: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent formula factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in the SSA average wage index. Young survivors (children and spouses under normal retirement age with a child in care) are not affected by this proposal. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2012

13.83

12.89

-0.93

340

0.00

0.00

0.00

2013

13.95

12.83

-1.12

329

0.00

0.00

0.00

2014

13.98

12.93

-1.05

315

0.00

0.00

0.00

2015

13.97

12.95

-1.01

302

0.00

0.00

0.00

2016

13.94

12.98

-0.96

290

0.00

0.00

0.00

2017

13.91

13.01

-0.90

278

-0.01

0.00

0.01

2018

13.94

13.03

-0.91

266

-0.02

0.00

0.02

2019

14.10

13.05

-1.05

254

-0.03

0.00

0.03

2020

14.32

13.07

-1.25

242

-0.05

0.00

0.05

2021

14.57

13.10

-1.47

229

-0.09

0.00

0.08

2022

14.85

13.12

-1.73

215

-0.12

-0.01

0.12

2023

15.12

13.14

-1.98

201

-0.17

-0.01

0.16

2024

15.37

13.15

-2.22

187

-0.23

-0.01

0.21

2025

15.60

13.16

-2.43

172

-0.28

-0.02

0.27

2026

15.81

13.18

-2.63

156

-0.35

-0.02

0.33

2027

16.00

13.19

-2.81

140

-0.41

-0.02

0.39

2028

16.16

13.20

-2.96

124

-0.48

-0.03

0.45

2029

16.28

13.21

-3.08

107

-0.55

-0.03

0.52

2030

16.39

13.21

-3.17

89

-0.62

-0.03

0.58

2031

16.46

13.22

-3.24

71

-0.69

-0.04

0.65

2032

16.49

13.22

-3.27

53

-0.76

-0.04

0.72

2033

16.50

13.22

-3.28

34

-0.83

-0.05

0.78

2034

16.48

13.23

-3.26

15

-0.90

-0.05

0.85

2035

16.44

13.22

-3.22

----

-0.97

-0.05

0.91

2036

16.39

13.22

-3.16

----

-1.04

-0.06

0.98

2037

16.32

13.22

-3.10

----

-1.11

-0.06

1.05

2038

16.24

13.22

-3.02

----

-1.18

-0.07

1.12

2039

16.14

13.21

-2.93

----

-1.25

-0.07

1.18

2040

16.03

13.21

-2.83

----

-1.32

-0.07

1.25

2041

15.92

13.20

-2.72

----

-1.39

-0.08

1.32

2042

15.81

13.20

-2.62

----

-1.47

-0.08

1.38

2043

15.71

13.19

-2.52

----

-1.54

-0.09

1.45

2044

15.60

13.19

-2.42

----

-1.61

-0.09

1.52

2045

15.51

13.18

-2.32

----

-1.68

-0.10

1.58

2046

15.41

13.18

-2.23

----

-1.75

-0.10

1.65

2047

15.32

13.17

-2.14

----

-1.82

-0.10

1.72

2048

15.23

13.17

-2.06

----

-1.89

-0.11

1.78

2049

15.14

13.16

-1.98

----

-1.96

-0.11

1.84

2050

15.06

13.16

-1.90

----

-2.02

-0.12

1.91

2051

14.98

13.16

-1.83

----

-2.09

-0.12

1.97

2052

14.92

13.15

-1.76

----

-2.15

-0.12

2.03

2053

14.85

13.15

-1.71

----

-2.22

-0.13

2.09

2054

14.80

13.15

-1.65

----

-2.28

-0.13

2.15

2055

14.74

13.14

-1.60

----

-2.35

-0.13

2.21

2056

14.69

13.14

-1.55

----

-2.41

-0.14

2.27

2057

14.65

13.14

-1.51

----

-2.48

-0.14

2.34

2058

14.60

13.14

-1.46

----

-2.54

-0.15

2.40

2059

14.55

13.13

-1.41

----

-2.60

-0.15

2.45

2060

14.49

13.13

-1.36

----

-2.66

-0.15

2.51

2061

14.44

13.13

-1.31

----

-2.72

-0.16

2.57

2062

14.39

13.13

-1.26

----

-2.78

-0.16

2.62

2063

14.34

13.12

-1.22

----

-2.84

-0.16

2.67

2064

14.29

13.12

-1.17

----

-2.89

-0.17

2.73

2065

14.25

13.12

-1.13

----

-2.95

-0.17

2.78

2066

14.21

13.12

-1.09

----

-3.01

-0.17

2.83

2067

14.18

13.12

-1.06

----

-3.06

-0.18

2.89

2068

14.14

13.11

-1.03

----

-3.12

-0.18

2.94

2069

14.12

13.11

-1.00

----

-3.18

-0.18

3.00

2070

14.09

13.11

-0.98

----

-3.24

-0.19

3.05

2071

14.06

13.11

-0.95

----

-3.30

-0.19

3.11

2072

14.03

13.11

-0.92

----

-3.35

-0.19

3.16

2073

14.00

13.11

-0.89

----

-3.41

-0.20

3.21

2074

13.97

13.11

-0.86

----

-3.47

-0.20

3.27

2075

13.94

13.10

-0.84

----

-3.52

-0.20

3.32

2076

13.91

13.10

-0.81

----

-3.58

-0.21

3.37

2077

13.88

13.10

-0.78

----

-3.63

-0.21

3.42

2078

13.85

13.10

-0.75

----

-3.69

-0.21

3.47

2079

13.83

13.10

-0.73

----

-3.74

-0.22

3.53

2080

13.81

13.10

-0.71

----

-3.80

-0.22

3.58

2081

13.78

13.10

-0.69

----

-3.86

-0.22

3.63

2082

13.76

13.09

-0.67

----

-3.91

-0.23

3.69

2083

13.75

13.09

-0.65

----

-3.97

-0.23

3.74

2084

13.73

13.09

-0.64

----

-4.03

-0.23

3.79

2085

13.71

13.09

-0.62

----

-4.08

-0.24

3.85

2086

13.69

13.09

-0.60

----

-4.14

-0.24

3.90

2087

13.67

13.09

-0.58

----

-4.20

-0.24

3.95

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2012 Trustees Report.

2012-2086

15.06%

13.93%

-1.14%

2034

-1.62%

-0.09%

1.53%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.